Sales 3 Flashcards Preview

Commercial Law > Sales 3 > Flashcards

Flashcards in Sales 3 Deck (9)
Loading flashcards...
1

what is it regards to remedies?

what happens if something goes wrong with sog contract

2

remedies?

normal and we have stat remedies aswell, remedies only avail to consumer buyers etc - sellers buyers and consumer buyers

3

remedies for seller? - key principle?

unpaid seller entitled to rem

4

two kinds of remedies for seller?

Can be classified as either:
a) Real- action against goods - part 5 soga b) Personal- action against buyer personally -against buyer part 6 soga

5

who is seller?

S.38(2) SGA 1979:
“includes any person who is in the position of a seller”
- e.g agents

6

When is the seller unpaid?

Defined by s.38(1) SGA 1979:
When the whole of the price has not been paid or tendered;- not been paid
When a bill of exchange or other negotiable instrument has been received as conditional payment, and the condition on which it was received has not been fulfilled by reason of dishonour of the instrument or otherwise.- e,g if buyer pays by check dishonoured = not paid

7

what are real remedies?

If property has passed to the buyer, then the unpaid seller has 3 rights exercisable against the goods (s.39(1) SGA):

1.A lien over the goods;- holding onto goods
2.Right of stopping the goods in transit;- stop being del to buyer
3.Right to resell the goods.

S.39(2): if property in the goods has not passed to the buyer, then the unpaid seller also has the right to withhold delivery of the goods.

8

what is meant by lien?

S.41(1) SGA explains the unpaid seller’s right to a lien:- seller keeping possession of goods until paid


“Subject to this Act, the unpaid seller of goods who is in possession of them is entitled to retain possession of them until payment or tender of the price in the following cases:
Where the goods have been sold without any stipulation as to credit;- sold havent recieved paymednt
Where the goods have been sold on credit but the term of credit has expired; or didnt say
Where the buyer becomes insolvent.” hold onto goods

gives possesion does not give property of goods- automatic terminates when seller ceases poss of goods

9

s.43 sets 3 ways lien lost terminated

-